Biotech Values

[DewDiligence]

THRX completes TBPH spin-off:

http://finance.yahoo.com/news/theravance-inc-theravance-biopharma-inc-000500257.html

Theravance, Inc. (NASDAQ: THRX) and Theravance Biopharma, Inc. (NASDAQ: TBPH) today announced the completion of the separation of Theravance Biopharma, Inc., the research and development-based biopharmaceutical business, from Theravance, Inc. to form two, independent, publicly traded companies with differing business objectives and opportunities, via a dividend distribution of Theravance Biopharma shares to Theravance stockholders.

Theravance, Inc., A Royalty Management Company, is focused on maximizing the potential value of the respiratory assets partnered with GlaxoSmithKline plc including RELVAR®/BREO® ELLIPTA® and ANORO™ ELLIPTA® and providing capital returns to stockholders, while Theravance Biopharma is focused on the discovery, development and commercialization of small molecule medicines across a number of therapeutic areas including bacterial infections, central nervous system (CNS)/pain, respiratory disease and gastrointestinal motility dysfunction.

The spin-off is non-taxable to THRX shareholders.